New Atlantic insurance law good for truckers too
HALIFAX (Oct. 20, 2003) — New legislation in Nova Scotia aimed at rolling back insurance premiums will apply to the trucking industry as well, confirmed the province’s insurance superintendent last week.
Catherine Smith told the Chronicle-Herald in Halifax that the language in the bill doesn’t discriminate between passenger car drivers and truckers, and it’s expected commercial rates for both fleets and owner-operators will also fall under the new legislation.
The proposed law calls for a 20 per cent rollback of insurance rates, effective for one year starting Nov. 1. A provincial board would be created to review and rule on all future rate applications.
Atlantic Provinces Trucking Association executive director Ralph Boyd told the newspaper he welcomes the news, adding the trucking industry has been hammered by skyrocketing insurance premiums that range anywhere from 30 to100 per cent depending on the fleet’s operation.
— Via the Chronicle-Herald
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